Duo Las Margaritas Group
Margarita is the leader of this group. She has been selling food products for several years. She tells us that she is happy because she has gradually gotten ahead in her business and her number of customers has gradually increased. She is requesting this loan to buy food products so that she can further stock her business as her customers ask her for products that she doesn't have. She is certain that she needs more capital to work.
The other member of this group raises animals. She is requesting this loan to buy animals to raise.
About FAPEFAPE, the Foundation for the Assistance of Small Businesses, is a nonprofit, socially-minded institution that provides loans to micro-entrepreneurs across Guatemala.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid